secwatch.observer — SEC 8-K summary
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Issuer:     Everything Blockchain, Inc. (EBZT)
CIK:        0001730869
Form:       8-K
Filed at:   2025-01-06T23:59:59+00:00
Accession:  0001477932-25-000067
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Everything Blockchain sells EBControl and BuildDB for $3.3M, expects ~$20M impairment
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- Sold EBControl and BuildDB software to DataRock Technologies for $3.3M; includes settlement of $1.3M defaulted promissory note and assumption of $1.15M vendor debt.
- Also includes assumption of $655K accrued payroll/benefits, $250K prepaid royalties, and $193K future royalty from sales of sold assets.
- Craig T. Stevens, former board member and holder of defaulted note, is principal of DataRock; transaction with related party.
- Company to impair goodwill and intangible assets by approximately $20M, to be reflected in next Form 10-Q.
- Company had defaulted on senior secured promissory note of $1,302,956 owed to Stevens prior to agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730869/000147793225000067/0001477932-25-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730869/000147793225000067/ebi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-000067

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer